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New York Community Bancorp says it will invest in Figure Technologies, which has developed an open source distributed ledger. The bank plans to use the technology to cut costs in mortgages and payments and promote financial inclusion.

Whether it’s ransomware or a natural disaster, a sudden freeze on operations can be devastating, and the recent incident highlights why mortgage industry businesses must constantly review their data security efforts.

Also, loanDepot adds recent HUD official to board, Cherry Creek names CTO, Homebot taps former Ellie Mae executive to lead enterprise sales and Stewart Title hires, promotes team members across the U.S.

Other investors in the round include Caffeinated Capital Andreessen Horowitz, Singapore's GIC, GGV Capital and Moore Specialty Credit.

The share of home sales that were competitive remained above year-ago levels in July, but only by a few percentage points.

The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.

Depressed margins and a $219 million hit to its servicing rights fair value translated to a lower bottom line at the wholesaler.

In a best-case scenario, the money could wipe out almost one-third of the pandemic-related increase in missed payments, but it won’t exclusively be used for that purpose.

Also: Rocket announces expansion and Ginnie Mae extends comment period on nonbank capital plan

Originations of loans to the self-employed and other outside-the-box borrowers had better margins than mainstream mortgages in the second quarter, but rebuilding after the niche market’s temporary disruption last year generated significant expenses.